Question seeks details on land rezoning, acquisition costs, and financial modelling related to METRONET's contribution to the 150,000 new homes target. The answer provides limited specifics, citing ongoing planning phases, but confirms private sector involvement and standard public-private partnerships.

AnsweredQoN 5196Legislative Assembly
Asked
11 June 2019
Portfolio
Transport; Planning

QuestionView source ↗

I refer to Budget Paper 2, Vol 2, page 608 - Significant Issues Impacting the Agency and under dot point one (1), the reference to building 150,000 new homes with regard to unlocking land around METRONET stations and infrastructure, and I ask: (a) Can you confirm the total amount of land area expected for planning zonal change as a direct result of Metronet; (b) How much of this land will be required to be acquired - or purchased - by the State Government; (c) What do you anticipate the total cost to government will be for acquiring this land; (d) Is there modelling available to show that Government will then be able to sell this land at a value equal to or more than what it acquires it for; (e) There is a figure on page 621 under Details of Administered Transactions showing an accrual of $104.8 million for the sale of Metronet land. What sales figures have been extrapolated past that year; (f) Do you anticipate the foreign buyers surcharge will impact the ability of Government to sell this land for the purposes of residential development; (g) Does the Government plan to enter into any Public Private Partnerships as part of its plan to develop land associated with Metronet; and (h) If not, to what level will the State be subsiding development land?

AnswerView source ↗

Answered
6 August 2019
Responded by
Minister for Transport; Planning
Response time
9 days
(a)-(d) Metronet will contribute a portion of the 150,000 homes to be delivered in close proximity to train stations and high frequency bus routes by 2031. The remainder will be delivered outside of Metronet. Several of the Metronet projects are still in the planning phase and it is too early to confirm the total amount of land to be be zoned for additional housing development or how much land might be acquired or sold by the State Government for that purpose. It is expected that the majority of new homes will be delivered by the private sector on privately owned land.
(e) Nil
(f) No
(g) Partnerships between the public and private sectors are a standard part of the State Government’s land development program, and typically take the form of joint venture partnerships between the State’s land development agencies and the private sector. Joint venture partnerships are likely to form part of the Metronet station precincts delivery program.
(h) Not applicable

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